Trade Ideas Position: Gold Bat

A golden trading opportunity for this upcoming second Brexit referendum on 12Dec19, yes you hear me right. It is no different to a second referendum when 1 party is pro-Brexit and another party is pro-Brestay.

The UK people have another chance to vote what their heart desire, to stay in the EU or to leave.

How the market will move, I've shared on my previous post on GBPUSD(link at the bottom), which every potential outcome it can happen, factor in 15Dec US Tariffs decision, it does have a strong possibility of Gold appreciation, you just have to look for a good entry.

The setup I have for a more immediate approach will be the 1-hourly chart on a trend trading setup.

This setup is not as beautiful as what I wish it could be, a strong bearish move follow by a consolidation near D pose a threat of further expansion to the downside, which may extend further and beyond point D, all is needed and prefer is X is not broken.

I will definitely need a PRZ confirmation to engage the trade.